Redwood Capital Management Limited:Stocks rose for two straight days with Techs lead as Market wraps
Major stocks led by Tech giants ended up higher on the opening of the last quarter this year.
Visa had been the biggest contributors on the Dows increase, while technology related stocks pull Nasdaq up by 1.4%.
Investors are still eyeing that a positive deal will be grant from the lawmakers and the White House with regards additional fiscal-stimulus package which will weigh down a bit the pressure on the US economy.
House Speaker Nancy Pelosi stated that they are about to move forward and have a vote whether to pass the $2.2 trillion coronavirus stimulus proposal from House Democrats or not.
She said in a public conference, “I’m hoping that we will be voting on it today,” and added, “We’re hopeful that we can reach agreement because the needs of the American people are so great — But there has to be a recognition that it takes money to do that, and it takes the right language to make sure it is done right.”
Here are the main movements in the Global Stock Market this Thursday;
Stocks
– Nasdaq Composite quite rose quite big around 209.01 points or 1.42% higher to 11,326.51.
– S&P 500 has also increased about 17.80 points or less than 1% to 3,380.80.
– The Dow Jones Industrial Average rose by 0.13% higher or 35.20 points to 27,816.90.
– The Stoxx Europe 600 Index is up by 0.2%.
– The MSCI Emerging Market Index gained about 0.3%.
Bonds
– The yield on the 10-year Treasury bond slid about one basis point to 0.6770%.
– Germany’s 10-year yield is down by one basis point to -0.54%.
– Britain’s 10-year yield rose about less than one basis point to 0.23%.
– New Zealand’s 10-year yield is also up by two basis points to 0.505%.
Commodities
– Gold strengthened around 18.59 points or less than 1% to $1,906.57 an ounce.
– Silver also increased by 0.52 points or 2.17% to $23.87 an ounce.
– West Texas Intermediate Crude declined by 3.73% or 1.50 points lower to $38.72 per barrel.
– Brent Crude slid a few basis points to $40.93 per barrel.
Currencies
– US Dollar Currency Index has a little change to 93.78 per dollar.
– The Japanese yen dipped quite a few by 0.1% to 105.56 per dollar.
– The British pound ended up 0.2% lower to $1.2889.
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